American Shipping to call $216 million of bonds at 101 via new issue

By Susanna Moon

Chicago, Feb. 7 – American Shipping Co. ASA plans to call its $216 million of senior bonds using proceeds of a new issue.

The notes will be redeemed at 101% of par plus accrued interest, according to a company announcement.

American Shipping plans to issue five-year senior notes in the Nordic bond market through its wholly owned subsidiary American Tanker Inc.

Some of the bonds may be offered in the United States to qualified institutional investors under Rule 144A concurrently with bonds offered outside of the United States under Regulation S.

The company said it cannot assure that the offering will be completed.

American Shipping, formerly known as Aker American Shipping ASA, is an Oslo-based shipping company.

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